Salesforce Inc. $CRM Stake Lessened by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC lessened its stake in shares of Salesforce Inc. (NYSE:CRM) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,135 shares of the CRM provider’s stock after selling 26,781 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Salesforce were worth $45,282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Byrne Asset Management LLC boosted its stake in Salesforce by 1.0% during the 4th quarter. Byrne Asset Management LLC now owns 4,331 shares of the CRM provider’s stock valued at $1,147,000 after purchasing an additional 43 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Salesforce by 0.3% in the 3rd quarter. Fred Alger Management LLC now owns 14,943 shares of the CRM provider’s stock worth $3,548,000 after buying an additional 45 shares in the last quarter. Pine Haven Investment Counsel Inc raised its stake in shares of Salesforce by 1.5% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,152 shares of the CRM provider’s stock worth $835,000 after buying an additional 46 shares in the last quarter. Richards Merrill & Peterson Inc. lifted its holdings in shares of Salesforce by 1.1% in the fourth quarter. Richards Merrill & Peterson Inc. now owns 4,239 shares of the CRM provider’s stock valued at $1,123,000 after buying an additional 46 shares during the period. Finally, Wright Investors Service Inc. lifted its holdings in shares of Salesforce by 0.8% in the fourth quarter. Wright Investors Service Inc. now owns 6,186 shares of the CRM provider’s stock valued at $1,639,000 after buying an additional 47 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.9%

Shares of Salesforce stock opened at $171.20 on Friday. Salesforce Inc. has a 12-month low of $146.32 and a 12-month high of $274.00. The firm has a market capitalization of $140.21 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.15. The stock’s fifty day moving average is $170.64 and its 200-day moving average is $191.20.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.75. The business had revenue of $11.13 billion during the quarter, compared to analyst estimates of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.Salesforce’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Equities analysts anticipate that Salesforce Inc. will post 10.29 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Thursday, June 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 11th. Salesforce’s dividend payout ratio (DPR) is 20.37%.

Analyst Ratings Changes

A number of research firms recently issued reports on CRM. Evercore reaffirmed an “outperform” rating on shares of Salesforce in a report on Tuesday. Scotiabank downgraded shares of Salesforce from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, June 18th. Roth Capital restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Thursday, May 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of Salesforce in a research note on Thursday, May 28th. Finally, Bank of America initiated coverage on shares of Salesforce in a report on Monday, May 18th. They issued an “underperform” rating and a $160.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.42.

Salesforce Company Profile

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.